Markets

Berkshire Hathaway Shares Up Even As Bill Gates Trims Stake

Berkshire Hathaway ( BRK.B ) ( BRK.A ) shares were in positive territory in Monday trade even after the investment vehicle for Bill Gates disclosed late Friday it has trimmed its holdings of class B shares to 4.8% from above 5% previously.

Class B shares were trading at $197.10, up 0.8%, at 3:39 pm ET in New York on Monday.

Cascade Investment said in a regulatory filing that it has sold 3.35 million of the class B shares, from Feb. 3 to April 4.

"The sales were made to facilitate compliance with federal excise tax rules limiting excess business holdings by private foundations," Cascade Investment said in the filing.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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